Today’s move in $EXK was one of the more retarded things I’ve seen happen since…well this Tuesday’s equally retarded Fiscal Cliff vote. On the heels of divine revelations that not quite everyone on the FOMC is completely batshit insane, metals and many metal stocks were trampled underfoot like a taxpayer caught in an Obamaphone Flashmob.
Here is my answer Senator: Nothing. And I’d appreciate it if you’d pay the commission fees for my next tranche of metal buying.
Does anyone that is not face down in a bucket of bathsalts seriously think the Fed will stop liquefying the Treasury complex to the tune of $85B per month anytime this year, or next? Even if the Fed’s new and magical unemployment target metric is eventually met (through the fraud of lower and lower participation rates – not actual job growth), the Fed’s buying must continue. You see, if the Central Planners ever lost control of inflation “expectations” it’s game-set-match for the US’s debt financing Ponzi. Fortunately, this is not likely as we as a nation have on our side the capable hands of the BLS etal., who successfully conspire to under-measure inflation by about 50% through their tortured statistical arbitrage of economic reality.
It will be interesting to see how long this Animal Farm existence can endure in America and for that matter globally. Probably longer than one can imagine. Trade carefully my friends.
3 Responses to Trampled
Nice piece. I will send you an 1 oz. Buffalo silver round for your efforts.
I will melt it down and use it as Bushmaster ammo!
Are you hunting werewolf?